Tuesday, April 23, 2024
NewsToyota is ahead in terms of market share in the US last...

Toyota is ahead in terms of market share in the US last year

  • Almost 300 millions light duty vehicles on North American roads.

  • Toyota is the brand with the biggest market share in the US last year.


 

A new report published by Irish firm Experian reveals some interesting facts about the North American automotive industry. Using results compiled after the fourth quarter of last year (2023), Experian’s statisticians were able to draw some conclusions about the biggest industry on the continent.

The first finding concerns the number of vehicles currently on the road in the USA and Canada. No fewer than 288.5 million light vehicles are registered, while this figure rises to 337 million when all other types of vehicles registered south of the border are considered.

There are also a few numbers worth mentioning when calculating market share in the USA. For example, General Motors was the big winner in new vehicle registrations last year. The GM empire took 20.7% of the new vehicle market in 2023 in the USA, ahead of Ford (15.9%) and Toyota (14.9%).

 

However, when we look at the same ranking by brand – GM has several brands to its credit, let’s not forget – Toyota (12.8%) is at the top of the podium, ahead of Ford (11.6%).

Chevrolet (11%) and Honda (7.5%) follow in third and fourth place respectively. It’s also worth noting that Nissan has regained its place at number 5 after a dip (7th) in 2022. During the same period, Tesla jumped four places to eighth in terms of market share in the USA last year.

The Ford F-150 continues to top the sales charts with 2.8% market share, ahead of the Toyota RAV4 (2.7%) and the Tesla Model Y (2.5%). The Honda CR-V and Chevrolet Silverado 1500 are both at 2.3%, while the Toyota Camry is at 1.9% market share. Toyota holds four of the nine models registered, with the Tacoma (1.6%) and Corolla (1.5%) closing the gap for the Japanese manufacturer in the top 9.

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